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Subject The $1 trillion reason why Bernanke's critics were wrong
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Original Message The Ben Bernanke victory tour rolls on.

According to a document filed Aug. 22 with the U.S. Court of Federal Claims, Bernanke said "September and October of 2008 was the worst financial crisis in global history, including the Great Depression."

Last week, NYT columnist Paul Krugman penned an ode to his former Princeton colleague. "And there but for the grace of Bernanke go we," Krugrman wrote, reflecting on Europe's economic morass.

On Monday, the tour rolled into Bloomberg, which determined that Bernanke's critics missed out on $1 trillion in potential gains in Treasuries since 2008. "The resilience of Treasuries represents a rebuke to the chorus of skeptics from Stanford University’s John Taylor to billionaire hedge fund manager Paul Singer and U.S. House Speaker John Boehner, who predicted the Fed’s unprecedented stimulus would lead to runaway inflation and spell doom for the bond market," Bloomberg's Cordell Eddings writes.

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[link to finance.yahoo.com]


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